Number of Machines: 24 Washers, 23 Dryers | 47 Total Years in Business: Laundromat since 1993 (CHL open 1 year) Sqft: 2, 000 Years Remaining on Lease: 9 years (Signed a 10 year lease with 5 year option) Annual Lease Increase: 3% increase in the first 5 years, 4% increase in the last 5 years Cost of Equipment: $350, 000 Monthly Expenses Rent: $3, 296 Water: $900 Electricity/Gas: $1, 000 Insurance: $1, 000 Internet/Phone: $165 Trash Fee: $109 Supplies: $500 Payroll: $5, 000 Monthly Income Self-Service: $8, 000 Wash & Fold + Delivery: $6, 000 Product Sales: $500 Total Expenses: $12, 000 Total Income: $14, 500 Asking Price: $300, 000 Terms: Cash deal, sold as is Highlights: ? Branded delivery app listed on App Store and Google Play offering lowest price per pound in NYC for delivery ? App shows how many machines are available so self-service customers can view how busy we are before entering store ? Doors open remotely at 6am every day so staff does not need to be there to open for self-service ? Highest rated laundromat in Castle Hill Area with 4. 9 stars and 85+ reviews on Google ? Lowest priced laundromat in Castle Hill Area (5 other laundromats within 1 mile that are on average 15% more expensive on washer/dryer pricing ? Robust social media presence with website, mailchimp integration, and Google Ad campaigns ? Parking lot available with 2 entrances into the location ? Physical staff of 6 along with 2 virtual assistants to help run delivery business and 1 marketing virtual assistant
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
Our Insurance Division:
$300,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $240,000 | $240,000 | $240,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.375% | 6.875% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.760% | 7.042% | 6.160% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,658 | $1,577 | $2,009 |
Total Monthly Payment | $1,733 | $1,652 | $2,084 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.